Idea

Сryptocurrency for the Global Fashion Industry. It facilitates payments by eliminating exchange rates, commissions, and fees on multicurrency payments

Current Status

Proof of Concept

Market

The global apparel market is valued at 3 trillion dollars, 2% of World’s GDP
940 million online shoppers to spend almost $1 trillion on cross-border e-commerce transactions in 2020 according to McKinsey&Company

Problem or Opportunity

High currency exchange rates and bank commissions and fees on international online/offline fashion shopping for shoppers
High exchange fees/commissions and transaction fees for the international B2B payments within the fashion industry
Excessive corporate expenses for the fashion companies: accounting, taxation, corporate fees, cross-border cross-currency transfers.
Disorganized and dispersed loyalty and bonus systems for international fashion shopping
Disorganized and dispersed sources of Big Data on international fashion shopping
Exchange rate fluctuations and currency inflation hurting fashion companies

Solution (product or service)

Single cryptocurrency for the global fashion shopping. No exchange rates, commissions or fees.
Low cost B2B payment instrument for the international fashion industry
Single discount and bonus system on Global fashion shopping
Reduced corporate expenses in taxes, admin costs, accounting, etc. with simple one currency business operations
Rising value of the crypto currency for the fashion industry
Elimination of effects of exchange rate fluctuations and currency inflation for the fashion companies
Single source of Big Data on International fashion shopping